Social Media Scams: What to Watch For

Don Bray, Chief Information Officer

Protecting our customers from fraud remains one of our highest priorities. As social media becomes increasingly woven into everyday life, scammers continue to use these platforms to
target consumers. According to the Federal Trade Commission (FTC), nearly 30% of reported scam losses in 2025 began through social media, resulting in more than $2.1 billion in losses.

Common Social Media Scams 

Investment Scams

Fraudsters promote opportunities that promise quick profits or guaranteed returns, often involving cryptocurrency or fake investment platforms.

Online Shopping Scams

Scammers create fake websites, marketplace listings, or sponsored ads that advertise products that never arrive—or arrive as low-quality counterfeits. 

Romance Scams

Criminals build trust through online relationships before requesting money or introducing fake investment opportunities.

Impersonation Scams

Scammers pose as friends, family members, businesses, or financial institutions to request money or personal information.

Red Flags of a Social Media Scam

• Guaranteed profits or “risk-free” investments. 
• Requests for payment by cryptocurrency, gift card, or wire transfer.
• Prices that seem too good to be ture.
• Someone you’ve never met asking for money.
• Urgent requests that pressure you to act immediately.
• Messages from friends or businesses that seem unusual or out of character. 

How to Protect Yourself

• Be skeptical of promises of easy money, guaranteed returns,
  or deep discounts.
• Verify requests for money through a trusted phone number
  or known contact method.
• Research unfamiliar companies, websites, and sellers before making a purchase.
• Never send money to someone you’ve only met online.
  

Stay vigilant! Scammers constantly evolve their tactics, but a healthy dose of skepticism can go a long way. Before clicking a link, sharing personal information, or sending money, take a moment to verify that the request is legitimate.